Pepco, Navy Enter $80.4M ESPC

Pepco Energy Services has been awarded an $80.4 million Energy Savings Performance Contract (ESPC) by the United States Navy at Naval Station Great Lakes (NSGL).

The contract awarded to the company — a subsidiary of Pepco Holdings – includes $42.4 million for investments in energy efficiency improvements and renewable energy systems. After construction, which is expected to take two years, the project will generate about $4 million annual in guaranteed energy savings. Overall, the project will generate about $79.9 million in guaranteed energy savings during its 16.5 year term.

Pepco will provide ongoing maintenance and other services once the construction is completed, according to the press release.

Duke Energy and the U.S. Navy are cooperating on a 24 MW DC solar project at the Naval Surface Warfare Center in Crane, IN.